LIC Housing Finance

LIC Housing Finance Interest rate, eligibility, documentation, feature, EMI Calculator, LICHFL details | Apply for LIC Home Loan online

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LIC Housing Finance

LIC Housing Finance limited is largest housing finance company of India. Its register office and corporate office at Mumbai. The company offer financial service for Resident purpose, construction, renovation, purchase of plot, repair of existing house. The company also offer finance on existing property for personal purpose or business requirements.

Purchasing a New House is the precious thing in our life and its also essential picking a right Home Loan Plan which suits to your requirement. LICHFLoffers Home Loan at spectacular interest rates, nominal processing fees and less documentation.  LIC Housing Finance is the one of Largest leading Housing Finance Company with various loan schemes as loan for Construction of Home, Purchase of New Flat, Renovation, Purchase of Plot Loan against Property, etc. LICHFL provides loan PAN India basis with easy process & no hidden cost.

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LIC Housing Finance Eligibility

  Salaried Self Employed / Professionals
Age Requirement 18years to 60years 18years to 60years
Income Rs.15000 per month Income Tax Return  Rs.2,00,000.00
Min Loan Amount Rs.10,00,000 Rs.10,00,000
Loan Term 30 years 25 years
Current Experience Minimum 2 Years Minimum 3 Years
Documentation

For Salaried Person

a)    Application form dully filed with photograph.

b)    Identity & residence proof.

c)    Latest 3 months salary slip.

d)    Form16

e)    Last 6 months salaried bank statements

f)     Processing fee cheque

g)    Copy of sanctioned plan and sanction letter from relevant Authority

h)    Copy of NA permission/ULC clearence, wherever applicable

Documentation

For Self Employed

a)    Application form duly with photograph.

b)    Identity & residence proof.

c)    Education qualifications certificate & proof of Business Existence

d)    Business profile, Last 3 years Profit/Loss & Balance Sheet.

e)    Last 3 year ITR.

f)     Last 6 months Bank Statements.

g)    Processing fee cheque

i)      Copy of sanctioned plan and sanction letter from relevant Authority

h)    Copy of NA permission/ULC clearance, wherever applicable

 

Loan Amount Loan Amount Start From Minimum 1,00,000.00
Loan duration For A Salaried Person is Maximum 30 Year

For A Self Employed is Maximum 20 Year

Repayment Option EMI –  Monthly Rest Basis
Rate of Interest Contact our Nearest Branch to avail Best offer.
Process Fees Its Applicable time to time

‘LICHFL have a special scheme for Pensioners for Before Retirement and After Retirement person.

Before Retirement

Purpose of Loan

Loans under this scheme may be availed for purchase, construction, extension of House / Flat

Eligibility for Loan

Persons whose age is 50 or more and having a pension scheme after retirement may apply for loan under this scheme

Terms & Conditions

A declaration that the Full loan amount or at least 30 % or an amount whichever will be decided by the Area Office will be repaid out of the retirement benefits is required. The balance loan amount is to be repaid from the Pension Income. The amount of Principal to be repaid during the time of retirement which will depend on the Pension amount the applicant is eligible after retirement.

Loan Term

The term of the loan will be up to 15 years or 70 years of age whichever is earlier.

 

After  Retirement

Purpose of Loan

Loans under this scheme may be availed for Purchase, Construction, Extension of House / Flat.

Eligibility for Loan

Pensioners having a stable income throughout their life from pension may apply for loan under this scheme.

Terms & Conditions

1) Commutation of Pension or any portion thereof is not allowed under this scheme.

2) A Guarantor acceptable to the Company is required.

Loan Term The loan is to be repaid before the applicant attains the age of 70 years.

 

Features of LIC Home Loan

  Loan For Purchase Loan for Construction Loan for Extension
Loan Amount Minimum 1,00,000.00 Minimum 1,00,000.00 Minimum 1,00,000.00
Loan Tenure Salaried – 30 Year

Self Employed 20 Year

Salaried – 30 Year

Self Employed 20 Year

Salaried – 30 Year

Self Employed 20 Year

Loan to Property Cost 85  % of Property Cost 85  % of Property Cost 85  % of Property Cost
Rate of Interest 9.15% – 9.60% 9.15% – 9.60% 9.15% – 9.60%
Processing Fees As Applicable As Applicable As Applicable
Pre Payment Charges NIL NIL NIL

 

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